Blackstone Expanding In Apartment Real Estate, Shares Up 1%

Investment management giant Blackstone (BX)is stepping up its expansion into apartment real estate holdings, Bloomberg reported. Shares rose 1%. Blackstone is already the largest owner of single-family homes in the nation. Bloomberg said Blackstone is shopping for acquisitions in suburban areas to expand its LivCor unit, which it formed in 2013 with the purchase of stakes in 71 apartment deals valued at $2.4 billion. In mid-day trade, BX was up 1.00% to $31.31.